The report predicts the global Bearing Isolators Market to grow with a CAGR of 5.7% over the forecast period from 2022-2031.
“The bearing isolators market is expected to grow at a CAGR of 5.7% from 2022 to 2031.”
The bearing isolators market is estimated to be USD 1.26 billion in 2022 and is projected to reach USD 1.67 billion by 2031, at a CAGR of 5.7% from 2022 to 2031. Rising awareness about the advantages offered by bearing isolators and their growing demand from end-use industries such as oil & gas, chemical processing, mining, paper & pulp, manufacturing & processing, etc., present growth opportunities for the global bearing isolators market. The volatility of raw material prices affects the demand for metallic and non-metallic bearing isolators, which act as a key restraint to the growth of the bearing isolators market.
“Metallic is the largest material type segment of the bearing isolators market.”
Based on material type, the metallic segment accounted for the largest share of the bearing isolators market in 2016. This large share can be mainly attributed to the material being cost-effective and their key functional properties, such as non-sparking and high wear resistance, which make it a preferred material, especially for the oil & gas, chemical processing, metal processing, and mining industries.
“Oil & gas is the largest end-use industry segment of the bearing isolators market.”
Oil & gas is the largest end-use industry segment of the bearing isolators market. Bearing isolators have proven to be the optimum solution for bearing failure, and to increase the Mean Time Between Repair (MTBR) and the reliability of rotating equipment in the oil & gas industry. Hence, there is a high demand for bearing isolators from the oil & gas end-use industry segment.
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“North America is expected to lead the bearing isolators market during the forecast period.”
North America is expected to lead the bearing isolators market during the forecast period. The growth of the North America bearing isolators market can be attributed to the rising demand for bearing isolators from end-use industries such as oil & gas, chemical processing, mining, manufacturing & processing, etc. The bearing isolators market in North America is expected to grow at a high CAGR from 2017 to 2022.
Profile break-up of primary participants for the report:
? By Company Type: Tier 1 – 25%, Tier 2 – 35% and Tier 3 – 40%
? By Designation: C Level – 25%, D Level – 25%, and Others – 50%
? By Region: Asia Pacific – 40%, Europe – 25%, North America – 22%, Middle East & Africa – 8%, and South America – 5%
Furthermore, as part of the qualitative analysis, the research provides a comprehensive review of the market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by various market players such as Inpro/Seal (US), The Timken Company (US), Aesseal (UK), Parker Hannifin (US), Flowserve Corporation (US), Garlock Sealing Technologies (US), John Crane (US), Baldor Electric Company, Inc., (US), Elliott Group (US), Advance Sealing International (US), Beacon Gasket & Seals Co. (US), IsoMag Corporation (US), etc.
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The report defines, segments, and projects the bearing isolators market based on material type, end-use industry, and region. It provides detailed information regarding the significant factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It strategically profiles key players and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments such as new product launches in the market.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenues of the bearing isolators market and its subsegments. This report will also help stakeholders better understand the competitor landscape, gain more insights to position their businesses better and make suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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